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small to view. i think what really bothers me is spain which i think clearly bothers the whole market. the question, a growth going to fall off a cliff or whether it muddle through and a bailout will be sufficient. as you say, we don't know the answer to that question. that remains the tail risk. until we do get close to a resolution, i'm not going to turn massively bullish. >> what's your view on that? >> i think i go along very much with what he's saying. >> what is your view on what happens to spanish growth? >> i think spain has a lot of problems at the moment. it's not seeing a lot in the domestic market. not seeing it move toward an export. in which case spanish growth is going to be very, very weak for some time to come. >> all right. good to see you. thanks very much. alan will stick around. time to bring you today's global markets report. let's go to asia for the update. >> that upbeat pmi data failed to lift greater china markets. there is pessimism over general lack of policy and also fears that over 800 companies lining up for ipos could further drain liquidity out of the
a rotation into safety, out of risk and out of spain and italy. about 4.5% for italy. thin trading in markets is exacerbating the move that we're seeing as we approach the year. today, the austy dollar is weaker against the u.s. dollar by about .4%. proxy there for global growth prospects. the dollar/yen is weaker by about .25%. this as markets digest the news out of the boj and gauge whether they'll be successful in boosting inflation ultimately. the euro/dollar, 1.3221. so for trading in asia, just how japan, china and the rest have been affected by fiscal cliff news, diedra morris is join onning us with plenty more. hi. >> hey, kelly. it was a bit of a rude awaking. a lot of these indexes were on their way to gains and then we had the fiscal cliff setback. we had news that john boehner's plan b failed. this all turned red and this is where we ended. the nikkei 225 coming back from that huge rally that we have seen over the last five weeks shedding 1%. the exporters hurt here because the dollar/yen was lower. it has regained some ground in the last few hours or so. the kospi shedding about
concerned about france and spain than i am about italy. >> we'll talk about those. >> let me add asking. if italy is in this situation now, it relied on the easy way out. and politicians, including berlusconi, didn't have the foresight to see that. >> thank you so much for coming by. >>> staying at the eurozone, investors will be watching for anything coming from the italian crisis. the results of the spanish bond actions are due around 12:40 cst. hsbc was hit with a $1.9 billion fine. the ceo said we accept responsibility for our mistakes and are profoundly sorry for them. >> a full year loft loss of 4.7 billion euros, thinksen krup has more details. >> they are starting to look at the positive of what i would call a -- strategy, i.e., a clean sweep when it comes to the business strategy of thyssenkrupp as well as the instruct occur and the refocusing on being transparent and definitely being something shareholders should trust. so no dividends, jobs may go and the sale of celiamerica being looked at. the cfo says there's a handful of interested parties in that particular party of the
of spain's massive lottery split a jackpot worth more than $3 billion. >>> hi, i'm staff sergeant massey here in kabul, afghanistan. i would like to say happy holidays to all my family in fayetteville, north carolina. happy holidays. my family in fayetteville, north carolina. happy holidays. ( ♪ ) for those nights when it's more than a bad dream, be ready. for the days when you get a sudden call from the school, be ready. for the times you need to double-check the temperature on the thermometer, be ready. when you have children's motrin on hand, you're ready. for high fever, nothing works faster or lasts longer than children's motrin. be ready with children's motrin. when an army of volunteers serve up a holiday feast for thousands of diners. and preparing a stormy white christmas around the countr where people will be shovelg out driveways...and packing scrapers. "i think it will just signal that they can't get it toger -that probably leads to even worse decisions in the futu and bay area leaders sound f on the fiscal cliff stalema. join us for cbs 5 eyewitness news this morning... be
half a percent, as well. take a look at bond yields. we looked at that auction yesterday from spain. they raised 4.3 billion. years went lower. nevertheless spanish yields today 5.4%, slightly lower from where we closed, but they did move up substantially after a handle of 5.2. we'll keep our eye on gilts, as well. we'll look ahead to the bank of england. nothing expected from them, of course. 1.8%. david miles was the only man who voted for more qe at the last meeting. as far as currency rates are concerned, euro-dollar at the moment 1.3068, just below the highs during the says. dollar-yen fairly contained. sterling-dollar steady 1.61. so pretty much as you were on some of those compared to this time yesterday. so what about the sazian session? only one lady to tell us. >> thank you, ross. asian markets ended mix. japan's bourses outperformed the region. despite a slight improvement in november corporate sentiment showed weakness. knee sap finished lower as they planned to recall nearly 50,000 cars in japan. shanghai composite pulled back after yesterday's 3% surge. investors booke
whole >>> rain on christmas day, more showers into wednesday >>> it's been a difficult year in spain. one in four people there out of work, but it's ending with some christmas cheer. nearly 2,000 people hit the jackpot in the world's richest lottery. the story of el gordo is next on "cbs this morning." and it feels like your life revolves around your symptoms, ask your gastroenterologist about humira adalimumab. humira has been proven to work for adults who have tried other medications but still experience the symptoms of moderate to severe crohn's disease. in clinical studies, the majority of patients on humira saw significant symptom relief and many achieved remission. humira can lower your ability to fight infections, including tuberculosis. serious, sometimes fatal events, such as infections, lymphoma or other types of cancer have happened. blood, liver and nervous system problems, serious allergic reactions and new or worsening heart failure have occurred. before starting humira, your doctor should test you for tb. ask your doctor if you live in or have been to a region wher
. look at catalonia. a region in northeast spain that includes barcelona. last sunday, they held parliamentary elections. a majority of the winners campaigned on a platform of secession. the vote follows an unprecedented demonstration in september when about one million catalons marched the streets demanding statehood. to put it in perspective, the entire population is only about 7.5 million. the next step could be a public referendum on breaking away. consider scotland which has already reached that point. in october british prime minister david cameron agreed to a deal allowing scotts to vote in 2014 as to whether they want to secede. then there's the strange case of belgium. the people speech dutch in the northern region. in the southern region they speech french. the people elected a set of local leaders who want to break away from belgium. why are break away parties gaining so much momentum? it's the economy at heart. according to leading daily only 57% of national taxes paid by catalon is returned. the rest is filtered to spain's poorer regions. scots also have an eye on en
. look at what is going on in spain. millions of people taking to the streets. they still call it a recession with 25 percent unemployment in spain, greece. things are getting worse everywhere. the austerity measures, what austerity measures? i got one. make a story. i'll make a bad bet. i don't want to take my losses. of take the money from you, mr. citizen. of tax you more, cat your services. what you do did you will pay more for my note that your pension and benefits. tom: how does all this in? we wind up with pitchforks? >> it's happening now. they don't call it class warfare. that is what is going on over there. again, there is no air spring. there's nothing about a pro-democracy movement. far too few had much too much and way too many head was too little. the people in the street that one piece of the pipe command it's going on around the world. and for some reason people are oblivious to it. look in this country, college graduates, the income is declining eight or 10% since the recession. you can't find a job. 3 percent of them have jobs paying high-school wages. so you'
there. >> yeah. >>> coming up in the program, spain's biggest export. an analyst who says shoppers are ready to spend. >>> and the vice president hugo chavez's cancer operation that was successful. heel be in miami to speak -- we'll be in miami to speak to an an lifted who talks about the transition of power. >>> plus, joined in studio by the ceo of japanese merchandising giant sanrio. what will the man in charge of -- yes -- hello kitty have to say about holiday spending? that's at 5:20 eastern. 11:20 central/european time. >>> u.s. budget talks have intensified. president obama and house speaker john boehner spoke by phone tuesday after exchanging new proposals. aides confirm the president gave boehner a revised offer on monday, reducing demand for new tax revenue from $1.6 trillion to $1.4 trillion over the next decade. boehner responded with a plan that largely sticks by his original offer a week ago. reports say the white house has told republicans it would include an overhaul of corporate taxes in any budget deal which it hasn't put on the table before. in an interview with a
than the united states. i mean, countries like spain, italy -- >> the austerity policy. when you look at the country -- >> countries like spain and italy -- >> i'm talking about the labor market adjustments. >> they have seen 20%. that's a problem. >> i'm sorry. i didn't hear -- what did you say? >> spain, italy, unemployment around 15, 20%. >> of course they do. >> juliet, hang on, because it is connected to the german point. part of the reason that germany has been able to have export-led growth and be so successful internally, germany is the china of europe. >> i realize that. i made that point about 20 minutes ago. you add shock at the beginning. i'm not talking about the later stage of austerity and self-imposed pain, which is what europe is dealing with right now. but if you look at the ocb adjustment to the downturn and the u.s. has a huge g and p adjustment and loss of unemployment where a lot of these other european countries adjust on hours and their unemployment doesn't go up. that's the only point i was making. >> adjust on hours meaning you get something more like job sha
] how can power consumption in china, impact wool exports from new zealand, textile production in spain, and the use of medical technology in the u.s.? at t. rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. >>> welcome back to squawk. happy monday. today in the "wall street journal" suggesting netflix could end up doomed with its success with children. netflix just for kids get more popular. companies like viacom get accurate. companies provide netflix with most of its content in a kids' focused section. the journal says at some point the suppliers will probably want to charge netflix more or they might even stop selling to netflix. that's been a huge problem for them when it comes to contend more broadly. >> time for the global markets report. kelly evans standing by in london. you rise above over
in spain. our road map begins with what appear to be significant progress in the debt negotiations overnight. a whose proposal looking to raise rates for those making more than $400,000 a year. but senator corker on squawk just poured a bucket of ice water on those hopes. >> whitney boosts her recommendations on citi, bank of america and discover financial. is that move by one of the more famous financial bears, a sign of a new era for banks? >> walmart is once again the target of a "new york times" investigation. but does the paper add anything new and can the stock outperform just as it did last time. >> private equity firm server said it will sell the firearms conglomerate. is private equity talking about guns in the country. >> futures moving higher on optimism. the white house republicans rising above partisanship, getting closer to striking a deal on the fiscal cliff. we have the latest on not just the breakdown of this offer, but by the response of some key senators this morning. good morning. >> yeah, that's right, carl. we saw the offer come in late last night and now we'r
. companies around the world, spain, peril around the world. cars around the world. multinational companies that are doing stuff right in this environment. we think that is the formula, broad-based market and the people that are executing within that. ashley: aren't you concerned about continued volatility in that area? italian elections coming up in february, german elections not far behind that, has to be seen whether angela merkel can survive that. does that give you cause for concern? >> there is no question about that. every election that has happened in the last two or three years, the incumbent has been evicted from office. you can worry about angela merkel, our guess is she is doing other than the rest of them and will survive, there's plenty to worry about that is what makes overall the market depressed and therefore attractive. ashley: you like the auto sector and insurance, tell us a little bit about that. >> insurance kind of our chicken way of finance. we are not comfortable with the euro banks we think the insurance companies are in much better shape, they came off of catastro
so far. europe is moving things. not the united states. spain also by the way we didn't talk about this they officially asked for european funds to recapitalize their banking sectors. that's also a bit of good news. i want to talk about china because i got a lot of calls and questions about my comments last week on china. have you noticed we got good news on the manufacturing overnight on china. better than expected. november better than expected. the pmi numbers. guess the whole world went up. korea went up. everything went up except china. a lot of comments last week about what exactly is happening in china because china -- mainland china stock market is among of the worst performers for the whole year. we're down 11% in shanghai this year. hong kong is up 18%. how do you explain this? this was a huge debate in the last couple of weeks and of course a lot of people are@@ pointing to the fact that there's less stimulus than expected coming from the government. they haven't said anything but that's not the problem. this has been going on now for months and months on end. selling sh
than greece, more than spain. but conversely, china, if gdp is coming back, they are in what many consider to be a sweet spot. >> the numbers came out saturday for china. i think italy has been remarkably good. so this was a big game changer. italy had been a part of the good story of european recovery. now it's back. >> all to monti was never intended to be there for the long term. >> sure. >> in fact, he may be leaving a month earlier than originally planned. this should not be a surprise in the larger context. while we may mention berlusconi's name right now, he's not expected to win. >> look, we knew that monti was successful. >> it may be whoever follows him is going to roll some of the gains that he's had. so-called gains. >> that's going to cause ripples here. look, on saturday night, i said, we're going to have a nice opening. china's good, people know that monti is not really going to hurt italy. i think if china continues the momentum, but the number -- >> the ex sports were less than expected in the month of november. which is a concern. then there's this perverse glass
as you have a drag on the economy. you have negative growth, a recession in spain and italy this year. you also have negative growth in greece. there's only so much you can have of negative growth across the continent of europe before impact spending patterns across the world. there are positives out there but we have to be focused on the fact that these problems are not going to go away. one of every four people in spain are unemployed and under the age of 25. fifty-six% to not have a job. that is a major rest of the for disaster and the math does not work. if you try to fix a problem with negative growth and nobody working. dennis: a lesson here. one last note on the fed. what is your concern there? >> pretty simple. the fed has raised the credit market. yield and price are not real. they are buying up trillions of dollars of these bonds and i'm worried about the day when the market no longer listens to them. the market has not been bigger than the fed over the last few years. of the market gets bigger than the fed, look out. yields should be much higher than where they are and if w
fix the over spending that is going to turn us into greece and spain. you talk about it all the time, it is so important we do that. even if we don't get rean elected it is so important -- reelected it is so important we do that we need all the leverage we got. >> sean: we are on our way to 20 trillion in debt. this is beyond fiscal cliff, this is a fiscal dive into i don't want to think where it can take us. >> some would say, if the dollar were not the international currency, we would have already been greece. >> sean: i brought up some ideas at the tkpweuplg of the program. i said okay, why don't we go for 200 billion in discretionary cuts to start, yes to entitlement reform, you agree? yes to serious tax reform? >> do i ever. when the president says fair share the perfect answer, flat tax. he has not made one pro bowsal that will have warren buffett paying the same as his secretary. it is called capital gains 15%. income tax is 15%. you make more, you pay more. you make less, you pay less. everybody pays their fair share. >> sean: same with value added tax after eliminating the f
and that is a game leapfrog. we end up with more debt and a weaker economy. the road map is greece, italy, spain, all over europe but the president thinks you can tax-and-spend your way to prosperity. >>neil: what the administration throws back on the issue is take a look at italy and greece, austerity has worked. you say what? >>guest: they have a strange definition. alwaysst either to them means higher taxes in europe and the united states austerity means less spending. i am in favor of the right definition of austerity. the balkan countries got out of the mess and now they are doing well economically because they cut, not just cut spending in the washington sense of increasing it at a slower rate they spent less one year after the other and now they are out of the trouble. if you understand the right definition of austerity is the way to go, the problem is in most of europe it means higher taxes, obama wants to give us the bad part of europe, without the good part. >>neil: thank you very much. they are not cutting anything. just slowing the growth. rebound and former president bill clinton hitting
zone, including spain, germany, france. yet, the united states of america is able to borrow at the lowest rate in pretty much its whole recorded history. so you have a very, very diverse landscape at the moment, but certainly one that could be significantly improved, or worsened by the situation that we have concerning the fiscal cliff, the fiscal deficit and the debt of the country, which are three topics that can be addressed now on the comprehensive and efficient fashion. >> in the fiscal cliff negotiation. so what should this mean? because i think i could interpret any given number to say, oh, that means we shouldn't touch taxes for the upper brackets because the economy still needs as much money as it can have in it. or i could argue, oh, this means that we need more stimulus to keep the jobs going, or i could look at the debt and say, oh, this means we need to cut spending. so what does it mean? so what would you, and what globally, what would mean the most for the u.s. to do in terms of the global economy? >> you know, what you said, you would qualify as an economist.
riding a horse through a village in spain in honor of the patron saint of animals. this figure here -- this one absolutely striking, stunning photo, gabby giffords hugging the house cloak room attendant when gabby was resigning officially from senate. this is a tibetan monk who was in exile setting himself on fire in protest. let's just show you one more here, here's a rescue worker carrying a child in china after some earthquakes that had occurred back to back right there. now these are just some of what you can see on cnn.com as we look back at 2012. another spread we have got for you right here, and these are some of the best sports photos of the year, and i won't give you the stories behind them, because i'm going to consider this a tease to push you to the web. a chance to vote on the most intriguing person of the year. we have got some interesting choices up here. some of the kind of obvious people, like chris christie, you can pick any face, you can drag it over, say which ones you think are most intriguing. you've also got gabby douglas, david petraeus and we'll be announcin
we go, ah. but it is amazing. nothing we can do. >> we're afraid spain is going to come -- spain was supposed to come to market. italy, oh, my, what happens when italy -- it turns out you had to take it down. i know that john corzine, very controversial figure. that's a code word. but what a trade they almost had. in the news again today. >> almost. >> horseshoes, hand grenades. >> we should point out, gm was certainly not having the easiest of times of it. this morning's stock is up sharply, we're telling you why. the company will buy back at a premium to at least what was the market price as of yesterday, 200 million shares from the government at $27.50. that having the effect of sending the stock above that. why not, if you're gm, you've got all this cash sitting on your balance sheet. you're earning virtually nothing on it, why not take the opportunity, even at a premium, to buy it back by as much as 11%, shrinking the cap by that much. we heard from tim massad who runs t.a.r.p., they'll be dribbling out the shares over time. the next 12 to 15 months. similar to the strategy
. the crisis in europe is going to get dramatically worse in portugal, spain, italy. there is dysfunction in the european union. that's one place to look. that's going to encourage russia to make moves of its own, you mentioned south africa. south africa is not going in a good direction, it's supposed to be the most optimistic spot on the african continent. so i don't see many bright spots, maybe new zealand, but some say that even new seeland-- >> still ahead, counting to obamacare. big changes could be coming in 2013 for you and your family. thanks to the president's health care overhaul. we'll tell you what to expect when we come back. [ male announcer ] truth is, dayquil doesn't treat that. really? [ male announcer ] alka-seltzer plus fights your worst cold symptoms, plus it relieves your runny nose. [ breathes deeply ] awesome. [ male announcer ] yes, it is. that's the cold truth! >> well, get ready, america, for the arrival of obamacare, some key provisions of the president's mammoth overhaul kick in come january and joe is here to tell you what to expect. or as we call the bill, j
. in portugal, spain, italy, there isening political dysfunction. that is going to encourage russia to make moves of its own. you mention south africa, south africa is not going in 'n a good direction. it was supposed to be the most optimistic spot. maybe new zealand but somebody told me they are heading south. >> paul: coming down to obamacare. big changes may be coming for 2013 for you and your family thanks to the president's healthcare overhaul. we'll tell you what to expect when we come back. ly? [ male announcer ] alka-seltzer plus fights your worst cold symptoms, plus it relieves your runny nose. [ breathes deeply ] awesome. [ male announcer ] yes, it is. that's the cold truth! time for citi price rewind. because your daughter really wants that pink castle thing. and you realldon't want to pay more than you have to. only citi price rewind automatically searches for the lowest price. and if it findone, you get refunded the difference. just use your citi card and register your purchase online. have a super sparkly day! ok. [ male announcer ] now all youeed is a magic carriage. citi pri
rebuild rebuild rebuild >>> the russians don't want anybody in spain but the spanish. is that scary? they're communists, yes, but they want total disarmament now. is that scary? hitler and mussolini are using the spanish earth as testing ground for what they want. another world war. is that scary? you're darn right it is! >> barbra streisand in "the way we were." that's my single favorite movie of all time. >> really? >> i told robert redford about it. he said he'd been resisting your clarion call for a sequel ever since. he's never made a sequel to anything he told me. he just doesn't believe -- >> i understand that. but this happens to be a great story. i wanted it to be released on the 25th anniversary, but we never made it. >> what would have happened? >> it just was a very interesting story about through their daughter and her political activism at berkeley in 1968 and the democratic national convention, which is very interesting. it was a beautiful love story again. >> now, i know that you're into your politics big time because we spent most of the last month e-mailing each other ab
in spain, italy, and great britain. ashley: corporate earnings, signs of weakness in the last earnings season. concernedded about that? >> i think that it's cyclical. i think there's been little signs. i think we have to get employment together in the united states. housing is starting to come back. we're -- slowly, but in the north east in particular, there's more demand, and there's less housing inventory, but in the rest of the country, we have to wait and see on that. employment is really, really the key thing, and so what comes out of all the negotiations and how we employee people, infrastructure, and all of that makes a difference. ashley: companies hunkering down, a lot of cash, but not doing in until washington gets the act together. >> means technology, for example, could be a big sector. if companies get signals from washington and go out and invest into hiring people, putting technology online, it could be great, but we're just waiting and waiting and waiting, which is why it's a cliff hanger. ashley: cliff hanger, i'm tired of saying "fiscal cliff. i'll use "cliff hanger."
way or the other, we will. >> remember when we used to talk about spain? italy? >> the good old days. spain was borrowing at 7%. >> germany went to the five-year high. we could have that, too. unlike them, our economy is not in tatters. they go five-year high on tatters. audi, good car. >> yes. good car. >> meantime, shares of costco this morning up in the premarket. warehouse retailer earned 95 cents a share in the first fiscal quarter. revenue, profit margins beating forecasts helped by rising sales. those higher membership fees did hike fees a year ago november, which doesn't happen very often. the journal today says, model looks great. the business is great. the stock is just -- people want to pay a lot of money for it, jim. >> oh, yeah, costco, those are remarkable numbers. i know you did an excellent special on coastco and it seems like the execution was impressive. people want to go there. >> as gas prices come down, that helps them, given they make it a bit of a loss leader. valuation rich for your blood. >> when you go to buy a house, you see kirkland more than any other bra
. take 15% youth unemployment in spain and compound that with the fact they stop having babies. what happens in a generation or two. >> i tell you, bill, you got me thinking, i encourage readers to read this. in some of the biggest developed economies pushed the most growth are below a 2% utility rate. this has to be dealt with at some point. back to you. >> thanks, rick. >>> road trip and big bank is in highways an byways in the road for yield. we'll explain how. and actually. the lexus december to remember sales event is on. this is the pursuit of perfection. stamps.com is the best. i don't have to leave my desk and get up and go to the post office anymore. [ male announcer ] with stamps.com you can print real u.s. postage for all your letters and packages. i have exactly the amount of postage i need, the instant i need it. can you print only stamps? no... first class. priority mail. certified. international. and the mail man picks it up. i don't leave the shop anymore. [ male announcer ] get a 4 week trial plus $100 in extras including postage and a digital scale. go to stamps.com
power consumption in china, impact wool exports from new zealand, textile production in spain, and the use of medical technology in the u.s.? at t. rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. with less chronic osteoarthritis pain. imagine living your life with less chronic low back pain. imagine you, with less pain. cymbalta can help. cymbalta is fda-approved to manage chronic musculoskeletal pain. one non-narcotic pill a day, every day, can help reduce this pain. tell your doctor right away if your mood worsens, you have unusual changes in mood or behavior or thoughts of suicide. antidepressants can increase these in children, teens, and young adults. cymbalta is not approved for children under 18. people taking maois or thioridazine or with uncontrolled glaucoma should not take cymb
. impact wool exports from new zealand, textile production in spain, and the use of medical technology in the u.s.? at t. rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. ro price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. by showing you the apartment building >> i thought i would start you the red cross put us in a hotel so we were able to stay together. we're strong and if we overcame that or if we can overcome that... we can overcome anything. [ sniffles ] ♪ >> sean: welcome back to hannity. time for media mash, our weekly round up of all the ways the main extreme media tries to put their liberal spin on their news. when it camene to covering the passage of the right to work legislation in michigan, they couldn't hide their bias. here to explain it, brother bozell. how are. you, sir. >> brother hannity, how are you doing? >> sean: i'm doing good.
had a 1.75 yield close. if we look towards spain and their 10-year, there isn't a lot to see on this intraday chart except for we've heard a lot about buy-backs and how great it is. today we had a public auction and they didn't show up for the entire amount. a dozen basis points isn't huge and these levels around 5.40 are a lot lower than they've been but this is something to pay attention to. >>> super storm sandy and anxiety over the fiscal cliff affecting job growth. adp showing the private sector created 115,000 positions last month. the expectation was about 125,000. it comes ahead of friday's key employment report and to talk about that and more, our senior economics reporter steve leisman joins us from washington. steve, we'll talk about your interview with secretary geithner in a moment but let's talk about those economic numbers. what about today's, what about friday's? >> before i get to the adp number, i have new information i've been able to report on the way down here from new york. that is, be prepared on friday for potentially, especially in the household surve
it was dubai and bp oil spill or greece or spain or the deleveraging or foreclosures. any of these things that we're supposed to take us out and yet we keep moving. i think the fiscal cliff is another one of these. >> let me ask you about the timing then. deutsche bank had a note out yesterday where they suggested that central banks have bought us a six months of time on the markets. if pmis do not improve, will we see growth? what would you say to that view? >> i mean, i'm pretty simple on this. i do not believe and we could debate this probably all day that quantitative easing itself has helped the economy at all. banks put that money right back to the fed as excess reserves. it hasn't boosted money in the economy. i don't believe that we've seen a false rally or sugar high. i think the growth in the economy and growth in the markets has been driven by productivity and profits. i think it's real. it's slow. it's real. we're going to have a weak fourth quarter. i believe most of that weakness is because of sandy. we're going to pick up later in the quarter. we'll have 2.5% to 3% growth n
pay. that sounds kind. you got to pay people if you fire them. in spain, the old rule was 3 1/2 years. so nobody is going to hire somebody 'cause if you don't like them, you got to pay them for more than 3 years. >> steve: it wasn't progressive. so if you had just been an employee for a certain number of years or something like that, you get an automatic 3 1/2 year severance? >> no, it doesn't take effect unless you've worked there for a year. so lots of people -- >> steve: wait a minute. you work there one year? >> that's right. now they've shortened. they'll only have to pay $200,000. no wonder spain has a 25% unemployment rate and they're rioting. >> steve: what about what the government is trying to do with the disabled? >> again, well intended. all kinds of surprise unintended consequences. in europe again, italy is poor. you have 15 employees, fine. you have a 16th employee, must be disabled. have 51 flows, 7% must be disabled. it just cripples the flexible of the work force. well intended, but that's why they have riots there. >> steve: listen, europe is great because they have
on the planet. the top four healthiest countries for men are japan followed by singapore, swins land and spain. the u.s. is tied with norway for 29th place. japan tops the list for women, followed by south korea, spain, and singapore. u.s. women finished 33rd in the tie with astona. >> we have to get ahead of astonia. >> all right. barbara streisand talking romance and politics with piers morgan. the hollywood icon says she's never been in love with a republican and never could be. she's a big president obama supporter and says the one thing that makes her proudest is his support for women and barbara streisand has a particular woman in mind to succeed the president. >> well, we're one of the last countries to ever think of having a woman be president. but i think that's possible now. but it wasn't years ago. >> do you think hillary is likely to run? >> i don't know but i hope after a four-year rest that she would run because she would be a great woman president. >> piers asked barbara streisand to name the greatest actor she's ever seen. her answer, marlon brando. good pick. >> i would say so
in southeast spain is cleaning up after revelers battled it out with flour, eggs, and -- wait for it -- firecrackers. the annual flour/egg/firecracker fight takes place on december 28 and celebrates spain's equivalent of april fool's day. to recap, that is flour, eggs, and firecrackers. jud . >> do they combine? >> yeah, like bisquick a la requirecrackers. >> some story meetings -- >> maybe next year. >> maybe. we'll see. >> thanks. >>> dylan dreyer has a check of the national forecast. good morning. >> good morning to you guys. yeah, talking about snow in the northeast. rain in the southeast. and right smack dab in the middle of the country, >>> snow will continue coming east. expect your snow chance prior to noon today. after that, it's rain. all the precipitation ending about 3:00 today. take a look because some folks are saying, where's the snow? it's west of us now between now and 9:00. that line will come to the east. we will be getting some snowfall in here, but only for about three or four hours. amounts pretty light. an inch, maybe just over that in montgomery county.
translate. a town in southeast spain is cleaning up after revelers battled it out with flour, eggs, and -- wait for it -- firecrackers. the annual flour/egg/firecracker fight takes place on december 28 and celebrates spain's equivalent of april fool's day. to recap, that is flour, eggs, and firecrackers. jud . >> do they combine? >> yeah, like bisquick a la requirecrackers. >> some story meetings -- >> maybe next year. >> maybe. we'll see. >> thanks. >>> dylan dreyer has a check of the national forecast. good morning. >> good morning to you guys. yeah, talking about snow in the northeast. rain in the southeast. and right smack dab in the middle of the country, it looks nice and sunny. it will be cold. temperatures only in the 20s and 30s. we are looking again at most areas in the northeast around one to three inches. we're not talking about a lot of flag or a lot of wind -- flooding or a lot of wind. southeastern massachusetts will be a jackpot area where we could end up with about six to nine inches of snow. the southeast will see the rain mostly through this morning. it will be h
like greece, spain and italy have been tackling their problems with sharp cuts in spending and higher taxes and that's been fueling recession and unrest. meanwhile, we now know that japan officially slipped into its own recession over the summer with the japanese economy contracting 3.5% between july and september. now, the previous quarter, the previous three months number was also revised lower and that makes for two consecutive quarters of negative growth and that's the classic definition of a recession. from asia, back to america, literally, a group of chinese investors agreed today to buy an 80% stake in aig's aircraft leasing business. back in 2008, the insurance giant was bailed out by the u.s. government to the tune of $180 billion. four years on, still paying back the money by selling off assets including the aircraft leasing unit that complemented aig's airplane insurance business. if u.s. regulators apro s appro deal, it will be one of the largest ever by chinese investors. china's state owned oil giant c-nook swooped in to acquire nexen for a cool $15 billion. note to the
production in spain, and the use of medical technology in the u.s.? at t. rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. we wrap it up with best advice. >> the best advice from singer/songwriter/american idol contestant adam lambert. >> the best advice i got, keep your eye on the prize. don't let anything distract you. you have a goal, take a risk and go after it. and don't let anything slow you down. don't let anything compromise that journey. head straight toward the goal. >> always bring your eye liner. >> yes. clearly. >> a lot of advice in that clip. >> and a lot of eye liner. >> he wears it well. >> that is all for "early start." i'm john berman. >> i'm zoraida sambolin. "starting point" starts right now. -- captions by vitac -- www.vitac.com
. pact wool expos from new zealand, textile production in spain, and the use of medical technology in the u.s.? at t. rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. with investment information, risks, fees and expenses music is a universal language. but when i was in an accident... i was worried the health care system spoke a language all its own with unitedhealthcare, i got help that fit my life. information on my phone. connection to doctors who get where i'm from. and tools to estimate what my care may cost. so i never missed a beat. we're more than 78,000 people looking out for more than 70 million americans. that's health in numbers. unitedhealthcare. and this is the nokia lumia 920 from at&t. it's got live tiles so all my stuff's always right there in real-time. it's like the ultimate p
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